Because PNN can't raise any more cash through CR's, that is the reason she wants consolidation. If the vote gets through, the share price would be notionally, adjusted to 0.10c from 0.001c. Then they can start CR's again, discounted to attract funds (eg say at .09c) while all the time diluting long term shareholders like me out of existence.
Ann: Notice of Extraordinary General Meeting/Proxy Form, page-5
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Last
12.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.86M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 13.5¢ | 12.5¢ | $31.63K | 246.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 61661 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 50000 | 3 |
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| Last trade - 11.02am 01/10/2024 (20 minute delay) ? |
| PNN (ASX) Chart |